... yessir, that is the problem with software..... I believe remote signings will engender mortgage fraud on a massive scale that is as yet unknown to us. You've uncovered a major flaw on only one item of the knowledge based ID. Both my husband and I have been 'mistaken' by software to own property neither of us ever purchase, have a lien against another property we never placed, owe a car loan to a bank we never use, etc. These are not small things. Additionally, someone pointed out that the computer camera may not be able to discern if a person is being coerced into the Signing or be able to ascertain "competency" in the deportment of the person or whether they are signing in an abandoned home, hoarder home, etc. There is a reason that even today, we must meet eye to eye on important matters - from Presidents to home re-fi's, how many times have we been asked by Borrowers at the signing table if we know the Loan Officer or what our personal experience is with this Lender they found on the internet? We are the only human, one on one, contact that most Signers get today. |